Under the context of economic transformation and upgrading and the continued advancement of supply/-sidc reforms in China, the devclopwent of the energy imiustry is confronted with many problems amd challenges, such as insufficient cnergy investment, a shortage of financing channels, and the low participation of social capital. In order to fully mobilize social capital to invest in energy, eniuincc energy investment efficiency, expand energy financing channels, and increase the vitality of the energy industry, the state has recently issued the Implementing Opinions on Deepening the Reform of Investment and the Financing System in the Energy Industry(“Opinions”). This paper provides a deep interpretation of this document from the perspectives of the background for the investment and financing system reform in the energy industry, the main content of the reform, the problems and challenges confronting the reform, and the expected effects from the reform, and analyzes the objectives, ideas and problems of the rcform, in order to effcctively promote the invest ment and financing system reform in the energy industiy.